New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-13

made An Of the nfteen roads which reported in 1875
showed large gains for the week Of 1885, OF the AZ
teen published eleven return gross earnings fol
the week asgregatng g. I3s 506-a gain on the weeh
Of 1885 OF @l26l90 or 1874 per cont Four roads 70
port earnings sggregating decline from the
week Of 1886 OF 22,s39 or 1876 per cent As usual
the roads reporting losses exceptional and glance
the tables will show that 1t must have been due
exceptional The roads showing gains include
the territory covered by the roads showing losses and
much extensive territory. Such EXCEPTIONS
however not unusual they have occurred In every
week Of this year of phenomenal railroad earnings
Talk about sentiment In stock specuations It never
held such sway there 1t holds amongst
financial institutions For months the general
sentiment Of average traders aud ali tho
active local forces have boon employed In
depressing values. and 1t has simply resulted restrict
ing the market within speculative limits, blu
prices generally higher than they months
because Of the slow absorption by homo and foreign
buyers who do their thinking. The pronounced sen
timent promulgated IN every possible form by half
dozen "bears" about the danger Of Treasury accu
mutation and ofItight money, seems to have had
effect the managers of New.Yorks financial insttu-
tions than on else. An aggravaton Of the
age bank policy now, when the associated banks were
carrying surplus" Of $50, 900. 000 would have
resulted In money market as close 1t is II tho
banks insist upon closing their doors all borrowers
and refuse to employ the money intrustcd to their
aggregate "surplus" amounts to $l,000,O00 or
900. In either deposits and cash idle
and useless and furnish reminder Of the Bible of
the who hid his money safe keeping
BY last weeks bank statement all the banks in the New
York Clearing House held equal to 1921 Of
Deposits at the time in 1880 the reserve was
2691 per OF deposits, and at the stock Elk
change ruled at 2ao3 per cent and good commercial
paper passed at per cent What makes che difference
owl Nothing except . sentiment or speculative in
forest Now there in the Clearing House nineteen
State banks which held by the National law Of
% per The Bank Of America
and the Corn Exchange Bank regarded
No. 1 In the list Of associated
banks BY last weeks statement the ratios Of their
respectively 1871 and 1875 per cont to de-
posts The National banks In the association In the az
gregate hold about 20 per cent But OF fact
the large National banks have disregardei the law
about many times since specie resumption in
1870. We have in mind National bank that
from January 1879 to January l. 1888, harily issued
than ten weekly statements showing reserve
equal per That bank carries 81 per cent
and will accept money from the Treasury at per
per It's liz per bonds The merchants
should appeal the banks in which they keep their de-
posts for relief II any is needed, and not
the Treasury, which is not accommodating money.
There Is guarantee that the banks would
be any liberal than they are II the money for
the Treasury purchase OF SO00000O Of bonds was de-
they for the OF the year. "It matter
OF sentiment"
OF todays stock more to be said than
depressing methods at work from the opening
to the close with irregular results Chicago sent us
dolefu accounts OF railway wars to happen and one
Chicago firm sent out from its New York branch the fol-
lowing "irom London: "Stock market very weak in
consequence OF money being very tight. Expect diiia
Guilty In making settlements" All day the Loniou
prices OF Americans were higher than tho concurrene
home quotations. The following was published as
washington special: The National bank repositories
now hold within about 81 100000 much Government
money as they entitled to hold without increasing
the amount OF bonds held security for such de-
posit Tho Treasurer says there is no truth
in the statement that deposits With National
that days ashington statement gives the deposits Ia
National banks at sI56596t3 against deposits, s OF
deposits OF Government bonds to secure casn deposits
have increased from 900 to S2.S!7,O0l Inc
market opened excited With marked effort against West
Union stock Closing at 70 saturday evening there
this morning 5000 1000 shares for sale a5
low figure possible and was successful In max
ing the opening price ~ for 1900 shares the remainder
were taken at 77asd774. An advance to 7Sl2 was FOL
lowed by another attack and quiet decline again
Unions statement TO be made on wednesday Tor the
than Is expected not
that the dividend declared will DO over per cent Ie
has upon results OF the business which the COM
pany doing at the present low rates that the recent
strong buying OF the stock has been based although no
doubts are entertained In wellnormed quarters that
the teegraphic war is near to IFS end An
advance OF 5 cents per ~ message ~, on the land
on its present business 81 s00, 900 additional net
earnings per annum In other parts Of the market the
more successful than in Western Union. But it
simply the result dull market OF efforts which were
put forth last Tuesday The market closed instrnscsy
strong.
Government bonds were dull and easy. Bids for the
49s Is lower Annexed are the closing quotations: